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Share-Based Compensation (Tables)

12 Months Ended

Jul. 31, 2020

The following table summarizes the performance periods and vesting periods for the Company’s nonvested stock awards under its long-term performance plans at July 31, 2020:

Long-Term Performance Plan (“LTPP”)	Performance Period	Vesting Period (in Years)
2020 LTPP	2020 – 2021	2 or 3
2019 LTPP	2019 – 2020	2 or 3

Outstanding Awards under LTPP

The following table summarizes the shares that have been accrued under the 2020 LTPP and 2019 LTPP at July 31, 2020:


2020 LTPP			10,451
2019 LTPP			22,767

Nonvested Stock Activity

A summary of the Company’s nonvested stock activity as of July 31, 2020, and changes during 2020 are presented in the following table:


Nonvested Stock	Shares			Weighted-Average Grant Date Fair Value
Unvested at August 2, 2019		52,583		$	147.17
Granted		27,779			161.92
Vested		(20,307	)		151.88
Forfeited		(300	)		164.29
Unvested at July 31, 2020		59,755		$	152.34

Aggregate Fair Value of Non Vested Stock

The following table summarizes the total fair value of nonvested stock that vested for each of the three years:

		2020				2019				2018
Total fair value of nonvested stock		$	3,084			$	5,119			$	5,976

Shares Accrued Under TSR RSUs Awards

The following table summarizes the shares that have been accrued for rTSR RSUs awards under the 2020, 2019 and 2018 long-term incentive plans at July 31, 2020:

	Shares
2020 rTSR RSUs		2,167
2019 rTSR RSUs		6,383
2018 rTSR RSUs		8,816

Components of Share-based Compensation Expense

The following table highlights the components of share-based compensation expense for each of the three years:

		2020				2019				2018
Total compensation expense		$	6,386			$	8,181			$	6,977

Unrecognized Compensation Cost, Nonvested Awards

The following table highlights the total unrecognized compensation expense related to the outstanding nonvested stock awards and nonvested stock units and the weighted-average periods over which the expense is expected to be recognized as of July 31, 2020:

	Nonvested Stock Awards		Nonvested Stock Units
Total unrecognized compensation	$	3,852	$	1,503
Weighted-average period in years		1.67		1.66

Total Share-based Compensation Income Tax Benefit

The following table highlights the total income tax benefit recognized in the Consolidated Statements of Income for each of the three years:

		2020				2019				2018
Total income tax benefit		$	1,120			$	1,317			$	774